eStellarNet, a leading automated transaction processor for the property and casualty industry, has raised $30 million in financing led by Capital Z Financial Services Fund II, a global private equity fund focused on the financial services industry. Joining Capital Z in the investment is Insurance Services Office Inc., the nation’s largest provider of actuarial and statistical information and services to the property and casualty insurance industry.
Terms of the investment were not announced. eStellarNet will use the capital to expand the reach and capabilities of its Internet-based connectivity system aimed at modernizing the $300 billion property and casualty industry’s transaction processing infrastructure. Specifically, the company will use the funds to accelerate the formation of connectivity partnerships with industry payers and provider networks.
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